Electronic equipment manufacturing behemoth Sony Corporation (SNE – Analyst Report) announced a string of small-scale internal restructuring actions, in a bid to achieve a leaner operating structure for accelerating future growth. Despite the companys earnest efforts, investors were unmoved as the share price fell 3.6% to close at $21.51 during the regular trading session on…
Share this: A Belgrade court postponed to March 16 the hearing of an extradition request, lodged by Bulgaria against Tsvetan Vassilev, former majority shareholder in the insolvent Corporate Commercial Bank (CCB), Bulgarian National Television reported on February 24. The delay comes after Vassilevs lawyer filed a doctors note saying that Vassilev had flu and was…
A new piece of fantasy sports legislation has surfaced in New York, signaling that the state appears to be ready to get serious about regulating daily fantasy sports. New York, of course, is one of the hotbeds for the legal status of daily fantasy sports, as DraftKings and FanDuel are currently engaged in a court battle…
Woolworths’ US partner Lowe’s has written down the value of its stake in Masters by $US530 million. Photo: David Mariuz US retailer Lowe’s has set the scene for legal action against Woolworths after writing down the value of its 33 per cent stake in their home improvement joint venture by $US530 million ($737 million). Lowe’s booked a $US530…
The ink on the insolvency law passed by the UPA-2 in 2013 was yet to dry up when the NDA, soon after assuming power in 2014, announced the setting up of the Bankruptcy Reforms Commission to propose a new law. Based on the Commissions recommendations, the government introduced the Insolvency and Bankruptcy Code in Parliament…
Two parliamentary committees the Public Accounts Committee and the Standing Committee on Finance have meanwhile studied the problem of stressed loans in the banking system and expressed outrage, recommending measures such as forensic audit of bad loans. The Finance Ministry is now reportedly working towards the creation of a public-funded asset Asset Something belonging to…
Business Netherlands Top Stories Perry Sport, Aktiesport declared bankrupt; Many potential buyers The court declared USG, parent company of Perry Sport and Aktiesport, bankrupt on Tuesday afternoon. Many parties are showing interest in taking over the two sporting goods chains. Dozens of potential buyers already made themselves known. This bankruptcy is the result of V&Ds…
Rice Energy Inc. disclosed late Tuesday the terms of a previously announced $500 million equity investment, revealing that the institutional investment firm EIG Global Energy Partners (EIG) would provide $375 million up front for a stake in the company’s midstream assets in Ohio and Pennsylvania (see Shale Daily, Dec. 21, 2015). Now that the deal…
Slater & Gordon has been suspended from trading until it reports its interim financial results on Monday. Photo: Jessica Shapiro Slater & Gordon shares have been suspended from trading as the company flagged a material write-down of British assets. The embattled law firm is set to report its interim results on Monday, February 29, in what will…